Today, one company has destroyed 103,270,223 SHIB tokens. It has done this by placing the Shiba Inu tokens to an inactive wallet and thus permanently removing these tokens from the current circulating supply.
103 million SHIB destroyed in one hour
When the Twitter page ‘shibburn’ tweeted that a total of 103.2 million Shiba Inu had been destroyed in a single transfer, Bigger Entertainment owner Steven Cooper said it was his team that destroyed these SHIB coins.
This was us at https://t.co/qAZCxRSOss
Learn how our company is contributing to the #shib burns using music playlists, merch, nfts, games, burn parties, and more.— Steven Cooper (@iamstevencooper) January 8, 2022
Bigger Entertainment is a crypto record label that gets music artists to donate 20 percent of their royalties to buy Shiba Inu that will later be destroyed. The company also sells NFTs, merch and tickets to music events. A portion of the profit from all of this also goes towards acquiring the SHIB coin and then destroying it.
The company started their Shiba Inu ‘burn’ campaign as early as October 2021. Since then, along with the aforementioned 103.2 million, they have destroyed nearly one billion Shiba Inu in total.
However, in the past five days, nearly 150 million SHIB tokens have been destroyed. In total, 410.3 trillion tokens have already been destroyed. That’s 41 percent of the total Shiba Inu stock that was initially one quadrillion.
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Other companies that have pledged to destroy Shiba Inu
There are a few other companies that have joined the SHIB destruction campaign. One of them is the Shiba Coffee Company. This coffee company supports the SHIB ecosystem. The company buys SHIB tokens with all of its profits and destroys ten percent of the SHIB it buys.
The Vibe Maquillage, a cosmetics brand, is destroying 15 percent of its profits in SHIB madness from sales. There are also several other companies participating, for example: Markilen, Precious Paws, Cryptoon Network and Shiba Search.
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